SEC, Japan Fin. Services Agency to increase cooperation

KathieO'Donnell

BOSTON (MarketWatch) -- The Securities and Exchange Commission and the Japan Financial Services Agency Monday announced terms for increased cooperation and collaboration. In an exchange of letters, SEC Chairman Christopher Cox and JFSA Commissioner Hirofumi Gomi elaborated the terms establishing the structure of and agenda for an SEC-JFSA dialogue. The increased cooperation follows discussions that occurred early in 2005. The new dialogue has two main objectives: to identify and discuss regulatory issues of common concern; and to promote cooperation in the exchange of information in cross-border securities enforcement matters. The dialogue will be composed of regular meetings and ad hoc information exchange at the staff level and between high-level representatives of the SEC and JFSA.

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